The Helen Group recorded an excellent result.
Successful measures in the electricity wholesale market, where the price level was higher than anticipated, had an impact on the strong profit trend.
Demand for district heat and district cooling was at a record high level, and the number of customers in Helen’s electricity sales reached an all-time high.
Net sales for 2018 totalled EUR 930 million (EUR 805 million) and operating profit stood at EUR 131 million (EUR 81 million). Operating profit accounted for 14.1 per cent of net sales.
Net turnover, Helen Group
Net turnover € 930 million
The investments in Helen Ltd’s production structure amounted to EUR 32 million. The investments include increasing renewable energy in district heat production, heat pumps, heat storage, and solar power plants.
Investment in emissions reduction consists of investments in the reduction of nitrogen oxide and sulphur dioxide emissions in heating plants.
Investment in production plants by Helen
District heat and district cooling
District heat sales grew on the previous year, standing at 6,702 GWh. The number of district heat connections also continued to rise, totalling 15,398.
District heat accounts for 90.4 per cent of the heated cubic volume of buildings in Helsinki. The overall price of district heat in Helsinki was at the average level in the country.
The sale of district cooling energy also grew strongly on the previous year to 188 GWh. The number of district cooling connections continued to increase: their total number was 387 at the end of 2018.
District heat sales
District heat connection power
A total of 6,578 GWh of electricity was sold. This was up by 7 per cent on the previous year.
The market price of electricity was at a high level throughout the year, rising further in the second half of the year as a result of low rainfall towards the end of the year and the increased cost of fuels and emissions allowances.
Spot price, Finland's area price
Electricity distribution in Helsinki was at the previous year’s level, standing at 4,413 MWh.
The reliability of the electricity network in Helsinki is outstanding. In 2018, an electricity user in Helsinki had, on average, only one power cut lasting five minutes during the year.
Distribution of electricity consumption in Helsinki 2018
Consumption of electricity in Helsinki in total
Reliability of electricity distribution
|The annual interruption duration per client, minutes|
Electricity production for the wholesale market
A total of 6,730 GWh of electricity was produced for the wholesale market in the power plants in Helsinki and through power assets and procurement. The volume of electricity production increased clearly from normal levels along with the rising market price.
The share of climate-neutral production forms of total electricity generation was about 35 per cent, while renewables accounted for 13 per cent. The low water supply situation affected negatively the production of hydropower.
|Origin of electricity||%|
Energy sources for district heat
We produced 7,200 GWh of district heat, which is more than in the previous year. Our energy production with coal was reduced, and the share of natural gas production increased.
The amount of energy we produced with heat pumps remained at the previous year’s level.
The amount of wood pellets we burned in 2018 was down due to production problems in the Salmisaari pellet-fired heating plants. We continued mixed combustion of wood pellets in the Hanasaari and Salmisaari power plants.
Energy sources for district cooling
District cooling production increased strongly in 2018, amounting to 187 GWh.